New Jersey holding line on gas tax

Posted: Updated:

TRENTON, N.J. (AP) -- Motorists will not face a gasoline tax increase in New Jersey.

NJ.com reports the petroleum products gross receipts tax rate schedule indicates Republican Gov. Chris Christie's administration is not seeking an increase on Oct. 1, a sign the 23 cents a gallon increase that took effect nearly a year ago is working.

The increase, which took effect in November, requires the state to re-examine the tax rate to ensure it is generating enough revenue for transportation projects. The treasurer can adjust the rate each year.

The increase is projected to generate about $1.23 billion annually to finance a $16 billion transportation program.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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